[UPDATE AUG 6]. About 400 people showed up for the hearing on Wednesday, people bused in, the former CEO of American Airlines testifying on the negative impact. But after 8 hours of an exhausting day, the decision came down to three members of the Florida Development Finance Corporation (FDFC). They all approved it. Citizens drawn from all quarters in Palm Beach County, from environmental supporters to residents in cities like Delray Beach, West Palm Beach and subject matter experts haved vowed to carry on their fight. Few had time to study the long awaited FDFC’s final Environmental Impact, dropped quietly online the day before the hearing.
August 4, 2015: Armed with a growing petition of 57,665 names and the support of grassroots groups like Florida NOT All Aboard, citizens are caravaning up to Orlando Wednesday, August 5 , to attend a hearing by the Florida Development Finance Corporation (FDFC).
All Aboard Florida (AAF), a private rail service project to connect cities from Miami to Orlando, should not get state-enabled tax exempt bonds to pay for its private venture because the project is too financially risky, say the citizens in opposition.
Wednesday is the last chance for public comment before the FDFC responds to All Aboard Florida’s request for authorization to raise funds through a “Private Activity Bond” (PAB).
Click Here for a Fact Sheet on the range of financial, property and quality of life issues at stake posted at the website, FloridaNOTAllAboard.net.
You can join in the opposition by electronically sending a form or signing a petition.
If you need a ride, The Guardians of Martin County is sponsoring a bus ride to the FDFC meeting, leaving its first location at 9:00 a.m. There will be two pickup locations, one in Stuart and the other in Vero Beach.
PABs is one form of financing that All Aboard Florida is attempting to obtain.Florida NOT All Aboard maintains that AAF should not use government as a conduit of financing in any way, shape or form.
What, Where, When of the FDFC Meeting
Florida Development Finance Corporation (“FDFC”)
Wednesday, August 5, 2015
1:00 PM – 6:00 PM
Double Tree By Hilton
60 South Ivanhoe Blvd. 2nd Floor, Orlando, FL 32804
FDFC Announcement:
During the public meeting, the FDFC Board of Directors will consider the request of AAF Holdings LLC and one or more of its affiliates, subsidiaries or related entities (collectively, the “Applicant”) to adopt a Resolution to authorize the issuance of bonds to (i) finance or refinance the cost of (or reimburse themselves for prior expenditures for) acquisition, construction, renovation and equipping of a privately owned and operated intercity passenger rail system with stations located in Orlando, West Palm Beach, Fort Lauderdale and Miami, Florida, (ii) fund debt service reserves, if any; (iii) fund capitalized interest on the bonds, if any; and (iv) pay costs associated with the issuance of the (collectively, the “Project”).
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